Chemung Financial
Market Cap
US$144.7m
Last Updated
2020/04/08 23:40 UTC
Data Sources
Company Financials +
Executive Summary
Chemung Financial Corporation operates as a bank.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of -6.4% per year for the next 3 years
Snowflake Analysis
Flawless balance sheet established dividend payer.
Similar Companies
Share Price & News
How has Chemung Financial's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: CHMG's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
10.1%
CHMG
14.6%
US Banks
9.4%
US Market
1 Year Return
-38.8%
CHMG
-24.3%
US Banks
-6.8%
US Market
Return vs Industry: CHMG underperformed the US Banks industry which returned -28.9% over the past year.
Return vs Market: CHMG underperformed the US Market which returned -10% over the past year.
Shareholder returns
| CHMG | Industry | Market | |
|---|---|---|---|
| 7 Day | 10.1% | 14.6% | 9.4% |
| 30 Day | 6.6% | -4.4% | -3.9% |
| 90 Day | -29.8% | -33.9% | -16.5% |
| 1 Year | -37.1%-38.8% | -22.0%-24.3% | -4.8%-6.8% |
| 3 Year | -14.7%-21.0% | -8.3%-15.1% | 23.4%15.2% |
| 5 Year | 28.6%11.1% | 16.7%3.3% | 41.3%25.7% |
Price Volatility Vs. Market
How volatile is Chemung Financial's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
Can We See Significant Insider Ownership On The Chemung Financial Corporation (NASDAQ:CHMG) Share Register?1 month ago | Simply Wall St
Chemung Financial Corporation's (NASDAQ:CHMG) 2.7% Dividend Yield Looks Pretty Interesting2 months ago | Simply Wall St
Did Chemung Financial's (NASDAQ:CHMG) Share Price Deserve to Gain 46%?Valuation
Is Chemung Financial undervalued compared to its fair value and its price relative to the market?
44.7%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: CHMG ($28.25) is trading below our estimate of fair value ($53.73)
Significantly Below Fair Value: CHMG is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: CHMG is poor value based on its PE Ratio (8.8x) compared to the Banks industry average (8.7x).
PE vs Market: CHMG is good value based on its PE Ratio (8.8x) compared to the US market (13x).
Price to Earnings Growth Ratio
PEG Ratio: CHMG's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: CHMG is good value based on its PB Ratio (0.8x) compared to the US Banks industry average (0.8x).
Next Steps
Future Growth
How is Chemung Financial forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
-6.4%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CHMG's earnings are forecast to decline over the next 3 years (-6.4% per year).
Earnings vs Market: CHMG's earnings are forecast to decline over the next 3 years (-6.4% per year).
High Growth Earnings: CHMG's earnings are forecast to decline over the next 3 years.
Revenue vs Market: CHMG's revenue (3.2% per year) is forecast to grow slower than the US market (7% per year).
High Growth Revenue: CHMG's revenue (3.2% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: CHMG's Return on Equity is forecast to be low in 3 years time (7.1%).
Next Steps
Past Performance
How has Chemung Financial performed over the past 5 years?
16.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CHMG has high quality earnings.
Growing Profit Margin: CHMG's current net profit margins (20.9%) are lower than last year (24.5%).
Past Earnings Growth Analysis
Earnings Trend: CHMG's earnings have grown by 16.5% per year over the past 5 years.
Accelerating Growth: CHMG's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: CHMG had negative earnings growth (-20.5%) over the past year, making it difficult to compare to the Banks industry average (10.8%).
Return on Equity
High ROE: CHMG's Return on Equity (8.5%) is considered low.
Next Steps
Financial Health
How is Chemung Financial's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Financial Institutions Analysis
Asset Level: CHMG's level of assets compared to its equity is low.
Allowance for Bad Loans: CHMG has a sufficient allowance for bad loans.
Low Risk Liabilities: CHMG's liabilities are made up of primarily low risk sources of funding.
Loan Level: CHMG has an acceptable proportion of non-loan assets held.
Low Risk Deposits: CHMG's loans are broadly funded by customer deposits.
Level of Bad Loans: CHMG has an appropriate level of bad loans (1.38%)
Next Steps
Dividend
What is Chemung Financial's current dividend yield, its reliability and sustainability?
3.50%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: CHMG's dividend (3.68%) is higher than the bottom 25% of dividend payers in the US market (1.93%).
High Dividend: CHMG's dividend (3.68%) is low compared to the top 25% of dividend payers in the US market (5.46%).
Stability and Growth of Payments
Stable Dividend: CHMG's dividends per share have been stable in the past 10 years.
Growing Dividend: CHMG's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (32.4%), CHMG's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: CHMG's dividends in 3 years are forecast to be well covered by earnings (36.5% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
4.3yrs
Average management tenure
CEO
Anders Tomson (52yo)
3.33s
Tenure
US$854,923
Compensation
Mr. Anders M. Tomson has been the Chief Executive Officer and Director of Chemung Canal Trust Company and Chemung Financial Corporation since December 22, 2016. Mr. Tomson has been the President of Chemung ...
CEO Compensation Analysis
Compensation vs Market: Anders's total compensation ($USD854.92K) is above average for companies of similar size in the US market ($USD615.59K).
Compensation vs Earnings: Anders's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 3.33yrs | US$854.92k | 0.66% $948.4k | |
| CFO, Executive VP & Treasurer | 6.5yrs | US$450.43k | 0.23% $334.9k | |
| Executive VP & Chief Information Officer | 2.92yrs | US$346.35k | 0.065% $94.7k | |
| Executive Vice President of Business Client Services | no data | US$483.82k | 0.53% $768.5k | |
| Assistant VP & Corporate Secretary | no data | no data | no data | |
| Senior Vice President of Human Resources | no data | no data | no data | |
| SVP, Chief Auditor & Senior Investment Officer | no data | no data | no data | |
| Executive Vice President of Wealth Management Group | 5.25yrs | US$315.34k | no data | |
| Senior Vice President of WMG Estate Administration | no data | no data | no data | |
| Senior Vice President of Commercial Lending | no data | no data | no data |
4.3yrs
Average Tenure
54yo
Average Age
Experienced Management: CHMG's management team is considered experienced (4.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 3.33yrs | US$854.92k | 0.66% $948.4k | |
| Director | 13.08yrs | US$63.51k | 1.04% $1.5m | |
| Independent Director | 9.08yrs | US$37.93k | 0.11% $163.2k | |
| Independent Chairman of the Board | 27.25yrs | US$87.16k | 7.72% $11.2m | |
| Independent Director | 25.25yrs | US$57.62k | 4.85% $7.0m | |
| Independent Director | 25.25yrs | US$56.04k | 0.35% $504.8k | |
| Independent Director | 36.25yrs | US$52.02k | 1.48% $2.1m | |
| Independent Director | 2.08yrs | US$53.38k | 0.072% $104.7k | |
| Independent Director | 6.17yrs | US$48.36k | 0.12% $171.6k | |
| Independent Director | 6.17yrs | US$55.28k | 0.47% $685.6k |
11.1yrs
Average Tenure
66yo
Average Age
Experienced Board: CHMG's board of directors are seasoned and experienced ( 11.1 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: CHMG insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Chemung Financial Corporation's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Chemung Financial Corporation
- Ticker: CHMG
- Exchange: NasdaqGS
- Founded: 1833
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$144.747m
- Shares outstanding: 4.87m
- Website: https://www.chemungcanal.com
Number of Employees
Location
- Chemung Financial Corporation
- One Chemung Canal Plaza
- Elmira
- New York
- 14901
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| CHMG | NasdaqGS (Nasdaq Global Select) | Yes | Common Stock | US | USD | Jan 1975 |
Biography
Chemung Financial Corporation operates as a bank. The bank offers demand deposits and interest and non-interest bearing time and savings deposits. It's deposits include jumbo deposits and retail time deposits. The bank provides commercial and industrial loans, consumer loans, commercial real estate loans, and other loans and leases. The company offers consumer loans, including credit card loans, revolving credit plans, and automotive loans. The company offers commercial real estate loans for land development and on-site construction of industrial, commercial, residential, or farm buildings in the United States; real estate-backed residential loans; and commercial loans collateralized by real estate properties. The company offers domestic and foreign commercial and industrial loans. The company offers loans for the purpose of financing agricultural production; loans which include planned and unplanned overdrafts, to governments in non-U.S. countries, to their official institutions, and to international and regional institutions. For 2017, it has an asset value of 1.7 million USD. The bank has generated a net income of 7,430 USD in December 31, 2017. Chemung Financial Corporation was founded in 1833 and is based in Elmira, New York.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/04/08 23:40 |
| End of Day Share Price | 2020/04/08 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.